Crisis in the Timeshare Resales Market, Any Relief in Sight?

By Bobby Kip Hernandez | June 10, 2009 | Popularity: 1% (?)

The timeshare industry depends greatly on the availability of credit in order for potential buyers to sign timeshare vacation package contracts. Without free-flowing credit, timeshare sales fall. To make up the gap in revenue, current timeshare owners are being asked to flip the bill. Many are seeking timeshare relief.

While some timeshare owners know of the special assessment fee, few know that timeshare resorts can call for nearly any amount they deem necessary. The financial impact for these economic extenuating circumstances can add up to high dollar amounts for owners.

Reports of $500 to $3,000 special assessment fees being doled out have recently surfaced. These outrageous amounts are hitting owner pocketbooks at the same time personal incomes are stagnant or falling, and as retirement funds drop like rocks thrown into a pond. The financial blow has opened some eyes as to the fragility and milk-them-for-everything mentality of the timeshare industry.

You would think that the millions in upfront cost and annual maintenance fees would be able to keep afloat all timeshare resorts. Unfortunately, many corporations leverage what they have to build more timeshare units in different locales. This strategy works well in good economic times but tragically multiplies the draining effect when credit is scarce and when revenue decreases.

And what if the special assessment fees are not paid? Not surprisingly, many timeshare contracts are skewed in favor of the developer. They charge non-payment penalties, garner wages, and put liens on real property like the homes of timeshare owners. What’s worse, default judgments can impose these penalties immediately following the payment due date.

Even in decent economic times, solutions are few for timeshare relief. Desperate resorts have rented units far below annual maintenance fees, and timeshare resales have always been notoriously difficult. Now, resales are next to impossible for owners. Who has the money to buy? And, who wants to pay a large special assessment bill? No one.

Need to get rid of your timeshare? Discover how over 25,000 other distressed owners solved their timeshare dilemmas. Contact Timeshare Relief for more information. Call 1-866-797-0535 and request a no-cost consultation right now.

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